The Huntley Village Board reached consensus Thursday to move forward with a property tax levy that would be about $122,000 more than last year’s request.
The increase would go toward the village’s police pension fund. Huntley Finance Director Cathy Haley said this was due in part to a statutory requirement that the pension fund be at least 90% funded by 2040.
For the owner of a home valued at $250,000, this would amount to an $11 annual increase.
However, Huntley Village President Charles Sass said this amount may change based on whether any property assessments are successfully appealed.
Village staff said that this proposal would align closest with Huntley’s financial policies and strategic goals of practicing sound financial management, while also being cognizant of the effect to taxpayers.
In addition to the recommended levy, village staff also proposed a levy with the police pension fund increase, plus a $50,000 increase for Social Security obligations for employees.
Haley said the village pays the full employer portion of its Social Security obligations each year but increasing the levy could assist with the payment.
The proposal would increase the tax bill of the owner of a $250,000 home by $16 annually.
A third option would establish the police pension and Social Security increases and raise liability insurance funding to the level it was at in 2016. These increases would amount to a $21 annual increase for the owner of a $250,000 home.
Several trustees spoke in favor of the first option. Trustee John Piwko called it the least intrusive option.
Huntley Village Manager Dave Johnson said a draft budget for fiscal 2020 has been prepared and accounts for the recommended levy option.
A public hearing on the fiscal 2020 budget will be held Dec. 5, at which time the board would vote on the budget, the property tax levy ordinance for 2019, levy ordinances for any special service areas for 2019 and 2019 abatement ordinances.
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